Faber: Fed Policy Will 'Destroy the World'

Marc Faber, publisher of the Gloom Boom & Doom Report, told Bloomberg Television that “the fallacy of monetary policy in the U.S. is to believe this money will go to the man on the street. It won't. It goes to the Mayfair economy of the well-to-do people and boosts asset prices of Warhols.
Faber said that he is “very happy. Very good for the Fed. Congratulations, Mr. Bernanke. I’m happy. My asset values go up, but as a responsible citizen, I have to say the monetary policies of the U.S. will destroy the world.”